-
New Brunswick Pre-Budget Submission
February 20, 2026
The Honourable René Legacy
Minister of Finance and Treasury
Re: New Brunswick Pre-Budget Submission
Minister Legacy,
The chamber of commerce movement in Atlantic Canada is a coordinated, community-embedded network that reaches thousands of small businesses across the four provinces. Within this network, the Atlantic Chamber of Commerce (ACC) serves and engages the 34 chambers of commerce located in New Brunswick, providing a shared platform for collaboration, insight, and regional advocacy.
Local chambers provide on-the-ground intelligence and direct support to entrepreneurs, while the ACC strengthens this work through regional alignment and shared advocacy. National partners, including the Chambers of the Federation and the Canadian Chamber of Commerce, ensure that local business priorities from our region influence national economic policy.
If your government is aiming to support small and medium sized businesses at the grassroots level, investing in a partnership with local chambers is one of the most effective tools available. Chambers and boards of trade have the trust, reach, and channels to deliver programs quickly and credibly. An investment in this network strengthens small business, builds community capacity and aligns local action with regional and national economic priorities
The ACC submits the following items for consideration for Budget 2026/27:Regulatory Burden
Reducing regulatory burden remains the most efficient way that your government can lower the cost of doing business. New Brunswick should adopt a proactive regulatory approach and legislate a permanent commitment to reduce the total compliance burden by at least 25% over the next five years, with annual public reporting on progress. Every new regulation should require a competitiveness impact assessment, and government should introduce a Standard Cost Model (SCM) framework to systematically measure administrative and compliance costs in both dollars and hours for businesses and citizens. Widely regarded as the gold standard in leading red-tape-reduction jurisdictions, SCM delivers transparent, evidence-based measurements that allow governments to set ambitious yet achievable targets, track real savings for businesses and individuals, and demonstrate tangible progress to the public. New Brunswick should also establish an office dedicated to the proactive reduction of regulatory burden and to oversee the measurement, tracking, and analysis of private sector burden and position New Brunswick as a leader in regulatory burden reduction in Atlantic Canada. Once established, this office should report directly to either the Premier or the Minister of Intergovernmental Affairs, reflecting that reducing regulatory burden is not just an initiative for one department, but one that should move across every corner of government.Comprehensive Tax Review
The Government should initiate a comprehensive provincial tax review to assess whether the existing tax framework promotes fiscal responsibility and economic equity. This effort should aim to evaluate the overall effectiveness and efficiency of the entire tax system in New Brunswick by streamlining the tax code to lower compliance costs for individuals and businesses, making obligations simpler to understand and meet. By reducing complexity and eliminating unnecessary barriers, a modernized system could boost economic participation, attract greater investment from both domestic and international sources, and enhance the province’s competitiveness.
New Brunswick faces ongoing challenges with high tax burdens that hinder growth and competitiveness. Recent analyses show the province has some of the highest personal income tax rates, corporate income tax rates, and sales tax components in Canada, contributing to an overall tax effort well above the national average. These factors, combined with persistent fiscal pressures such as large projected deficits and reliance on equalization payments, underscore the need for a broader review beyond the current focus on property tax reforms. A full examination of personal, corporate, and consumption-based taxes would identify opportunities to rebalance the system, reduce reliance on income taxes that discourage work and investment, and shift toward structures that better support economic vitality while maintaining revenue stability. This holistic approach would position New Brunswick to address longstanding issues, foster self-sufficiency, and create a more attractive environment for businesses and residents alike.Addressing Labour Shortages
Labour shortages in critical trades and sectors continue to pose a significant challenge to New Brunswick's economic development. These shortages limit the province's ability to meet growing demands in key areas such as healthcare, education, construction, skilled trades, forestry, food production, trucking, and emerging opportunities in energy and manufacturing. With an aging workforce and major retirements projected, particularly in construction where thousands of workers are expected to leave the labour force over the coming decade amid rising infrastructure needs and large-scale projects, competition for talent is intensifying.
The Government of New Brunswick should introduce the following:- A refundable provincial tax credit incentive, such as a rebate on provincial income tax paid on the first $50,000 of earnings, for apprentices and workers under the age of 30 in designated high-demand occupations. This targeted measure would build on existing federal supports, apprenticeship programs, and provincial incentives, while addressing gaps in attracting and retaining young talent. By implementing this incentive, the government could enhance New Brunswick's competitiveness in drawing skilled workers from across Canada and internationally. It would accelerate workforce growth, support higher rates of training and apprenticeship completions, close persistent skills gaps, and foster innovation in vital industries. Ultimately, this would contribute to sustained productivity gains and greater economic resilience for businesses and communities throughout New Brunswick.
- Invest in training and capacity for local chambers and industry associations to facilitate the Talent Pipeline Management model. A new to Canada approach for building talent pipelines for upcoming projects that will require a planned approach to workforce development. We can work with your government on an investment to grow the workforce in New Brunswick. Learn more here: https://www.atlanticchamber.ca/talent-pipeline-management
Atlantic Graduate Retention Tax Credit
The Atlantic Chamber of Commerce, in partnership with Chambers of Commerce and Boards of Trade from across the region to develop an Atlantic Population Growth Strategy. One of the primary recommendations for Governments is to implement an Atlantic Graduate Retention Tax Credit (AGRTC). The AGRTC would create an incentive for domestic and international graduates to remain in Atlantic Canada for at least three years, addressing retention challenges and workforce gaps. The Government of New Brunswick should implement an AGRTC and implore its Atlantic counterparts to also pursue implementation.
The ACC is requesting to meet to discuss how we can support your government’s efforts to improve economic conditions for all businesses to thrive and prosper.
Sincerely,
Rhonda Tulk-Lane
President & CEO
Atlantic Chamber of Commerce
-
Truth and Reconciliation
Recognizing the importance of education, the Chamber encourages businesses to provide comprehensive training for management and staff on the history of Indigenous peoples, including the legacy of residential schools, Indigenous rights, and Aboriginal-Crown relations. Emphasizing intercultural competency, conflict resolution, and anti-racism, these efforts aim to foster a more inclusive and harmonious corporate environment rooted in mutual understanding and respect. Learn more click here.
